Safran to buy Zodiac Aerospace in $10 billion dealJanuary 19, 2017 - 17:16 AMT PanARMENIAN.Net - Aircraft-engine company Safran has agreed to buy seat and cabin manufacturer Zodiac Aerospace in a deal worth 9.7 billion euros ($10.3 billion), including debt, The Associated Press reports. The companies, both based in or around Paris, announced Thursday, January 19 the creation of a "new global leader in aerospace." Safran will offer 29.47 euros per share, which is 26.4 percent above Zodiac's closing share price Wednesday. If it gets more than 50 percent of the share capital, it will then merge the rest of the shares on the basis of 0.485 Safran shares for one Zodiac share. Safran shareholders will also receive a special dividend of 5.5 euros per share. The deal, supported by the French state, requires shareholders' approval. French President Francois Hollande said in statement that the deal "will strengthen the French aeronautics industry." Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. |